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Practicing Supply and Demand

Practicing Supply and Demand. Draw the curves, shift the one that is appropriate and determine the effect on price and quantity. G: heating oil S: coldest winter in 20 years R: . G: heating oil S: coldest winter in 20 years R: preferences. S. P 2. P 1. Price. D 1. D. Q 1. Q 2.

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Practicing Supply and Demand

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  1. Practicing Supply and Demand Draw the curves, shift the one that is appropriate and determine the effect on price and quantity

  2. G: heating oilS: coldest winter in 20 yearsR:

  3. G: heating oilS: coldest winter in 20 yearsR: preferences S P2 P1 Price D1 D Q1 Q2 Quantity

  4. G: Domestic oilS: Hurricane devastates U.S. Gulf Coast

  5. G: Domestic oilS: Hurricane devastates U.S. Gulf CoastR: Number of Sellers S2 S1 P2 Price P1 D Q2 Q1 Quantity

  6. G: Nintendo WiiS: Becomes the Must-Have-Game System during DecemberR:

  7. G: Nintendo WiiS: Becomes the Must-Have-Game System during DecemberR: preferences S P2 P1 Price D1 D Q1 Q2 Quantity

  8. G: Sony PS3S: Manufacturing Plants suffer breakdownsR:

  9. G: Sony PS3S: Manufacturing plants suffer breakdownsR: technology S2 S1 P2 Price P1 D Q2 Q1 Quantity

  10. G: Housing in Southern CaliforniaS: 1 million new people immigrate to CaliforniaR:

  11. G: Housing in Southern CaliforniaS: 1 million new people immigrate to CaliforniaR: number of buyers S P2 P1 Price D1 D Q1 Q2 Quantity

  12. G: Indianapolis Colts TicketsS: Colts go to the ChampionshipsR: Note: a Fixed Supply curve

  13. S G: Indianapolis Colts TicketsS: Colts go to the ChampionshipsR: preferencesNote: a Fixed Supply curve P2 P1 Price D1 D Q1 Quantity

  14. G: Chicago Bears JerseysS: Bears win the Super BowlR:

  15. G: Chicago Bears JerseysS: Bears win the Super BowlR: preferences S P2 P1 Price D1 D Q1 Q2 Quantity

  16. G: Hotel Rooms in CancunS: Spring BreakR: Note: fixed Supply curve

  17. S G: Hotel Rooms in CancunS: Spring BreakR: preferences/ number of buyersNote: fixed Supply curve P2 P1 Price D1 D Q1 Quantity

  18. G: Baseball MittsS: Trade agreement with Vietnam removes import quotas on goods made in VietnamR:

  19. G: Baseball MittsS: Trade agreement with Vietnam removes import quotas on goods made in VietnamR: govt restrictions S1 S2 P1 Price P2 D Q1 Q2 Quantity

  20. G: CD PlayersS: iPodR

  21. G: CD PlayersS: iPodR: substitutes S P1 P2 Price D D1 Q2 Q1 Quantity

  22. G: SUVsS: Gas hits $5.00 a gallonR:

  23. G: SUVsS: Gas hits $5.00 a gallonR: complements S P1 P2 Price D D1 Q2 Q1 Quantity

  24. G: Britney Spears cdS: Britney gains 100 pounds

  25. G: Britney Spears cdS: Britney gains 100 poundsR: preferences S P1 P2 Price D D1 Q2 Q1 Quantity

  26. G: DiapersS: Baby BoomR:

  27. G: DiapersS: Baby BoomR: number of buyers S P2 P1 Price D1 D Q1 Q2 Quantity

  28. G: BeefS: Mad Cow DiseaseR:

  29. G: BeefS: Mad Cow DiseaseR: preferences S P1 P2 Price D D1 Q2 Q1 Quantity

  30. G: ChickenS: Mad Cow DiseaseR:

  31. G: ChickenS: Mad Cow DiseaseR: substitutes  S P2 P1 Price D1 D Q1 Q2 Quantity

  32. G: Krispy Kreme DonutsS: Low Carb Craze sweeps nationR:

  33. G: Krispy Kreme DonutsS: Low Carb Craze sweeps nationR: preferences S P1 P2 Price D D1 Q2 Q1 Quantity

  34. G: AutomobilesS: Government requires seat belts, air bagsR:

  35. G: AutomobilesS: Government requires seat belts, air bagsR: govt. restrictions S2 S1 P2 Price P1 D Q2 Q1 Quantity

  36. G: Flu VaccinesS: Government provides vaccine makers tax breaksR:

  37. G: Flu VaccinesS: Government provides vaccine makers tax breaksR: subsidies S1 S2 P1 Price P2 D Q1 Q2 Quantity

  38. G: Agricultural Crops (i.e. lettuce, grapes, etc.)S: Agricultural workers strike and receive a raiseR:

  39. G: Agricultural Crops (i.e. lettuce, grapes, etc.)S: Agricultural workers strike and receive a raiseR: inputs S2 S1 P2 Price P1 D Q2 Q1 Quantity

  40. G: Dairy ProductsS: Hormones that increase dairy milk production developed R:

  41. G: Dairy ProductsS: Hormones that increase dairy milk production developed R: technology  S1 S2 P1 Price P2 D Q1 Q2 Quantity

  42. G: California WineS: 50 new vineyards open in the Napa ValleyR:

  43. G: California WineS: 50 new vineyards open in the Napa ValleyR: number of sellers S1 S2 P1 Price P2 D Q1 Q2 Quantity

  44. G: French CheesesS: Tariff imposed in French agricultural productsR:

  45. G: French CheesesS: Tariff imposed in French agricultural productsR: govt. restrictions S2 S1 P2 Price P1 D Q2 Q1 Quantity

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